Securities industry in China is an article on the securities industry in mainland China.
In mainland China, the China Securities Regulatory Commission is the primary regulator; however, it has delegated certain activities to a self-regulatory organization called the Securities Association of China (SAC).
Mainland China began an IPO sponsor system began in 2004, which is similar to a sponsor system in Hong Kong began in 1999. In order to be publicly listed in China, a prospective listing firm must be sponsored by a securities company (investment bank) and the sponsor must assign sponsor representatives to the listing firm. This In 2012, the SAC took over registration of sponsor representatives. The exam to become a sponsor representative is extremely difficult, with a one percent passing rate, and sponsor representatives have been highly compensated, with $1 million annual salaries in 2010. Despite this, they are viewed as often ineffective.
2010, there are 106 Members of Securities Association of China
Domestic rankings in 2010
|Ranking||Company||No. of sponsor representatives||No. of professionals|
2. Net brokerage revenue
|Ranking||Company||Net brokerage revenue (RMB 1B)||Market share among top 100 brokers (%)||No. of branches||Net brokerage revenue per branch (RMB 1M)|
3. Total assets
|Ranking||Company||Total assets (RMB 1B)|
Source: Securities Association of China
Global rankings in 2010 & 2011Q1 1. Sponsored deals
|Company||2011Q1 Ranking||2011Q1 Market share||2010 Ranking||2010Market share||Change in market share|
|BoA Merrill Lynch||6||4.00||6||4.9||-0.9|
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